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Article: Acorn Energy Announces Intent to Increase Ownership of GridSense.
- Article from:
- PR Newswire
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Will own 100% of leader in remote monitoring and control systems for electric utilities to avoid and manage electrical failures
MONTCHANIN, Del., Nov. 5 /PRNewswire-FirstCall/ -- Acorn Energy, Inc. , an energy technology holding company, today announced that it has entered into a binding letter of intent to purchase 69% of GridSense Systems, Inc. which will increase its ownership to 100%. The agreement is only subject to Acorn completing its due diligence to its satisfaction, with the closing expected to occur on or about January 5, 2010. The terms include cash, Acorn stock, conversion of Acorn loans to GridSense stock, and management performance incentives for ...
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